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Investors bet on Bitcoin call options before the announcement of the Bitcoin ETF decision, with exercise prices concentrated at $50,000

Investors bet on Bitcoin call options before the announcement of the Bitcoin ETF decision, with exercise prices concentrated at $50,000

Cointime2024/01/06 06:37
By: Cointime
BTC+0.35%

According to a report by Jinse Finance, data analysis of the Deribit Bitcoin options market shows that traders are preparing for significanT price fluctuations in January. As of January 5th, the total open contracts for Bitcoin options on Deribit are 228,646.70 BTC, with a nominal value of $10.05 billion. This number indicates a high level of market participation and interest in the future price trend of Bitcoin.

Of these, the open contracts for bullish options are 162,694.50 BTC, while the open contracts for bearish options are 65,952.20 BTC, indicating that investors have a dominant bullish sentiment and seem to be anticipating or hedging against potential upward movement in the price of Bitcoin.

In addition, the most concentrated strike price for bullish options is $50,000, with a value of $1.05 billion. This price can be seen as an important psychological barrier, as many investors are betting that Bitcoin will reach or exceed this level. The next most popular strike prices are $45,000 and $60,000, indicating that investors are optimistic about higher prices but lack confidence in the $50,000 level.

Regarding the open contracts for each expiration date, the data shows that the call options expiring on January 26th are highly concentrated, with a value of $2.21 billion, while the put options have a value of $988.49 million. This indicates a more pronounced bullish sentiment in the medium term, with a large portion of the market expecting significant developments in Bitcoin ETFs before this date.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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